The Curious Tale of Three Gaps (short then long)
Take a look at this daily chart. The wave starts on 13 March last year and the first gap appears over the weekend of Friday 13th September. The level is 1.58792. The wave completes half way through July this year and a new wave down starts on 15th July. My interpretation of the centre of this wave is 3 September. The current price as I write is (amazingly) 1.6118 at the 61.8 extension and the 100% extension lies at precisely 1.58792 the price of the 13 September Gap. Moreover joining the start of the second wave to my anticipated end with a fibonacci circle puts a line straight through that gap at the 11.09 level!! If the current wave finishes at this level I will of course go long with a target above 1.70.
As an aside I notice that the Fed is now complaining that the dollar is too strong and the Japanese are complaining that the Yen is too weak - so be careful what you wish for is all I can say! I also believe that Mark Carney wants a strong pound going into the next election and even though it might not happen - making everyone believe that interest rates are going up first could do the trick.
Even though this is just my interpretation of the mathematical dynamic, there is a strange beauty in those missing bars!
As an aside I notice that the Fed is now complaining that the dollar is too strong and the Japanese are complaining that the Yen is too weak - so be careful what you wish for is all I can say! I also believe that Mark Carney wants a strong pound going into the next election and even though it might not happen - making everyone believe that interest rates are going up first could do the trick.
Even though this is just my interpretation of the mathematical dynamic, there is a strange beauty in those missing bars!
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